INTERCOMPANY FINANCING PORTAL (ICFP)

ORGANIZATION

The client is a multinational financial services conglomerate operating in 56 countries specializing in commercial lending and leasing. The company manages millions of dollars every day, serving thousands of business units, guaranteeing business unit commitments to their customers, collecting money from business units, and paying banks internationally for letters of credit.

CHALLENGE

One of the services provided by the treasury team is intercompany funding, which consists of initiating and managing internally-made loans to address financing needs in different departments.

The intercompany funding practice encompasses several different funding types. Each funding type is independent in nature and has its own complex workflow requiring multiple levels of reviews and approvals. However, only one group within the treasury team manages all of the different funding types.

The existing intercompany funding process needed:

• Centralization: one application with the ability to handle all Intercompany funding options.
• Automation
• Controllership and governance
• Advanced reporting

SOLUTION

XTIVIA provided a web-based portal that hosts multiple robust workflows to provide controllership and governance around intercompany financing transactions for the treasury team. The portal serves as the point of entry for all intercompany funding transactions.

The portal has a dynamic dashboard which allows the treasury team to view a snapshot of all transactions and the ability to manage transactions from one place. This portal allows for:

• Consolidation of various intercompany financing workflows into one central location.
• Transaction visibility.
• Eliminate the need for other standalone workflows.
• Eliminate manual hand-ofs.

The implemented solution provides the required approval, governance, controllership, and transactional status reporting treasury needs to operationalize and improve the current intercompany financing process.

RESULTS

The benefit of the new intercompany portal was immediately recognized. The major benefit being that the treasury
team no longer needed to go through the laborious process of accessing multiple applications to manage the
various funding types.

Overall benefits:

• Consolidation and centralization of intercompany funding transactions.
• Increased efficiency of the end-to-end intercompany funding process.
• Addressed pain points of the current process.
• Flexible and extensible application to support the evolving requirements either through system configuration or system extensions as appropriate.
• Application provides a rich user experience and seamless integration with other treasury applications.

KEY COMPONENTS

TECHNOLOGIES USED

Service Oriented Architecture (SOA)

XTIVIA Workflow Framework (XWF)

Enterprise Service Bus (ESB)

Business Process Management (BPM)

Java & J2EE

Cognos

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